Commerzbank Aktiengesellschaft FI Buys 2,908 Shares of Hershey Company (The) (NYSE:HSY)

Commerzbank Aktiengesellschaft FI lifted its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 73.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,847 shares of the company's stock after acquiring an additional 2,908 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Hershey were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Montag & Caldwell LLC bought a new position in Hershey in the 4th quarter valued at $25,000. Putney Financial Group LLC bought a new position in Hershey in the 4th quarter valued at $25,000. Crowley Wealth Management Inc. bought a new position in Hershey in the 4th quarter valued at $28,000. Mpwm Advisory Solutions LLC bought a new position in Hershey in the 4th quarter valued at $28,000. Finally, Proffitt & Goodson Inc. bought a new position in Hershey in the 1st quarter valued at $28,000. 57.96% of the stock is currently owned by institutional investors.

Hershey Price Performance

Shares of Hershey stock traded up $0.03 during trading on Friday, hitting $171.26. 2,394,123 shares of the stock traded hands, compared to its average volume of 1,811,877. The firm's fifty day moving average is $165.40 and its 200-day moving average is $164.62. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 1.11. Hershey Company has a 52 week low of $140.13 and a 52 week high of $208.03. The stock has a market cap of $34.70 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 6.41 and a beta of 0.30.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.15. Hershey had a return on equity of 38.70% and a net margin of 15.32%. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the company earned $3.07 EPS. Hershey's revenue for the quarter was down 13.8% compared to the same quarter last year. Research analysts expect that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 16th were given a $1.37 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.20%. Hershey's dividend payout ratio is currently 67.57%.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 974 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the completion of the transaction, the chief accounting officer owned 2,994 shares in the company, valued at $470,387.34. This trade represents a 24.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP James Turoff sold 1,300 shares of Hershey stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total value of $227,500.00. Following the transaction, the senior vice president owned 25,321 shares of the company's stock, valued at $4,431,175. The trade was a 4.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,107 shares of company stock valued at $9,008,118 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Mizuho reduced their price objective on Hershey from $167.00 to $155.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. DA Davidson upped their price target on Hershey from $162.00 to $163.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Wall Street Zen cut Hershey from a "hold" rating to a "sell" rating in a research report on Sunday, July 6th. Barclays upped their price target on Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Citigroup dropped their price target on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Six investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat, Hershey currently has an average rating of "Hold" and an average target price of $158.84.

About Hershey

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.